2018 Annual Information Form March 21, 2019 TABLE OF CONTENTS 1. Important Information about this Document ............................................................................................................ 3 1.1 Reporting Currency .......................................................................................................................................... 3 1.2 Historic Metals Prices ...................................................................................................................................... 3 1.3 Technical Information ...................................................................................................................................... 3 1.4 Forward-Looking Information .......................................................................................................................... 4 1.5 Non-GAAP Measures ........................................................................................................................................ 8 Definitions ........................................................................................................................................................ 8 2. About Centerra ....................................................................................................................................................... 10 2.1 Our Properties ................................................................................................................................................ 10 2.2 Inter-Corporate Relationships ....................................................................................................................... 11 2.3 Recent Developments ................................................................................................................................... 12 Kumtor Mine .................................................................................................................................................. 12 Mount Milligan Mine ...................................................................................................................................... 12 Öksüt Project .................................................................................................................................................. 13 Mongolia – Boroo and Gatsuurt Projects ..................................................................................................... 14 Greenstone Gold Project................................................................................................................................ 14 Corporate ........................................................................................................................................................ 14 2.4 Other Disclosure Relating to Ontario Securities Commission Requirements for Companies Operating in Emerging Markets .......................................................................................................................................... 15 Controls Relating to Corporate Structure Risk ............................................................................................. 15 Procedures of the Board of Directors of the Company ................................................................................ 17 2.5 Centerra’s Business ....................................................................................................................................... 17 Business Objectives ....................................................................................................................................... 17 Business Operations ...................................................................................................................................... 17 Marketing and Distribution ............................................................................................................................ 18 Gold Doré Produced at Kumtor Mine ............................................................................................................ 19 Copper/Gold Concentrate Produced at Mount Milligan Mine ..................................................................... 19 Molybdenum Industry .................................................................................................................................... 19 2018 and 2017 Production and Revenue ................................................................................................... 20 2019 Outlook ................................................................................................................................................. 20 Competitive Conditions .................................................................................................................................. 24 Mineral Reserves and Resources ................................................................................................................. 24 About Mineral Resources .............................................................................................................................. 24 Important Information About Mineral Reserve and Resource Estimates ................................................... 24 Sources, Pricing and Availability of Materials, Parts and Equipment .......................................................... 30 Financial and Operational Effects of Environmental Protection Requirements ......................................... 30 2.6 Responsible Mining ....................................................................................................................................... 32 Our Approach ................................................................................................................................................. 32 Governance .................................................................................................................................................... 32 Social Performance ........................................................................................................................................ 34 Community Engagement, Development and Social Investment ................................................................. 34 Indigenous Relations ..................................................................................................................................... 36 3. Centerra’s Properties ............................................................................................................................................. 38 3.1 Producing Mines ............................................................................................................................................ 38 Kumtor Mine .................................................................................................................................................. 38 Mount Milligan Mine ...................................................................................................................................... 62 3.2 Development Properties ................................................................................................................................ 72 Öksüt Project .................................................................................................................................................. 72 Kemess Project .............................................................................................................................................. 79 Greenstone Gold Property ............................................................................................................................. 85 3.3 Exploration Properties ................................................................................................................................... 92 Canada – Berg ............................................................................................................................................... 92 Turkey – Yamaç.............................................................................................................................................. 92 Mexico – Tenoriba Property ........................................................................................................................... 92 Canada – Max Property ................................................................................................................................. 92 Finland – Pontio and Karhu Properties ........................................................................................................ 92 Sweden & Finland Strategic Agreement ....................................................................................................... 93 Burkina Faso and Cote d’Ivoire Strategic Agreement .................................................................................. 93 3.4 Molybdenum Properties................................................................................................................................. 93 Endako Mine .................................................................................................................................................. 93 C E N T E R R A G O L D I NC. 201 8 ANNUAL I NFORMATION F ORM Page 1 Thompson Creek Mine ................................................................................................................................... 94 Langeloth Metallurgical Facility ....................................................................................................................